Young CEO takes the helm of
Tanzanian bank

By Machame Sande Dar-es-Salaam correspondent.
April 2010.

AT 36, NEHEMIAH Kyando Mchechu has come from selling beer to being the Chief Executive Officer (CEO) of Commercial Bank of Africa Tanzania Limited (CBA).
Mchechu is now one of Tanzania’s youngest bank executives having taken over the helm of a loss-making bank and turning it around an admirable profit making firm. The bank changed its name three years ago after CBA Group took
it over from the former United Bank of Africa (UBA).
In his first year at CBA, the bank made an annual profit of KSh324million (TSh911 million in 2007 as opposed to a loss of Ksh18 billion (TSh one billion)
reported during the previous year that ended in 2006. The total assets of the bank grew by 12per cent from Ksh423 billion (TSh23.5 billion) in 2006 to TSh51.9 billion by the end of December 2007. The growth was mainly attributed to capital injection during the year and an increase in customer deposits.
The lending improved significantly to KSh3744 billion (TSh20.8 billion)
in December 2007 in comparison to
the Ksh144 billion (TSh eight billion) recorded at the end of the previous year. The growth has been on both corporate and retail lending. The launch of Mortgage Financing and Insurance Premium products also had a positive impact on lending.
Mchechu’s business acumen was demonstrated when he was just 12 years old. As a teenager, his first business venture involved selling consumables to fellow pupils at school.
“As I grew up, I always believed that one would only succeed in business after university with the help of a god-father,” he reminisces.
After high school, Mchechu opened a grocery store as he decided whether he would continue to his university education. Within two years, he had decided to join university and study Bachelor of Commerce at
the University of Dar-es-Salaam (UDSM). This was after making some significant profit from his business.
He continued with his business on the side as he pursued his studies until he graduated in 1999.
After completing his degree, Mchechu decided to try formal employment and applied for a job at Citibank as a junior banker in 1999. A year later, he moved to Barclays Bank Tanzania where he was appointed to be a business manager. This leap opened doors to other opportunities. After one year, he moved to Standard Chartered Bank Tanzania in 2002 where he worked his way up to the level of Business head of Division. After one year, he became The Alternative Director, Head of Global and Co-Head Wholesale Banking.

Dream to become CEO
In retrospect, his dream to become a CEO was born seven years back when
he stood in for his boss at Barclays Bank who was away on leave. One of the most difficult choices Msechu had to make was leave his senior management job at SCB Tanzania, a multi-national bank, and move to CBA, a regional bank that was making losses at the time.
Of all the 12 people he sought advice from, only one encouraged him to take up the opportunity. His wife was unsure of what he was to do. When he finally made up his mind and filled the CEO’s position at CBA, he found that the risk, earlier viewed as very high, was worth it.
“All the stories about making losses are history. The bank is now on its feet and doing very well making annual profits of over 100per cent,” Msechu says. Looking back, Msechu is happy about making the move. He is proud of his achievements in turning around CBA and growing talent in the organisation. “I also believe in introducing new products
on the market,” he says. “You have no right to criticise others if you are not doing well. It is only by action and achievements in one’s life that one breeds confidence in an individual.”
Msechu encourages other managers to be self- driven, confident, focused and determined. With supervisors can
“I also believe in introducing new products on the market,” he says. “You have no right to criticise others if you are not doing well.”
those qualities, their
have faith in their abilities and entrust them with more responsibilities. Msechu is married and a father of three children. He says his family motivates him keeps him energetic and optimistic about the future. He loves whisky and enjoys bike- riding thrice a week around his Mbezi Beach residence.

Executive CV
Degree Bachelor of Commerce at University of Dar-es-Salaam
He started his banking career as a junior banker in Citigroup in 1999 Worked in Standard Chartered
Bank Tanzania for five years in various positions as; Alternative Director, Head of Global and co-head Wholesale Banking.
He is currently the Chairperson of University of Dar Es Salaam Faculty of Commerce Alumnae Association, the Board Chairman of Rightway Schools, a Board Member of National Investment Company Limited, Tumaini University Dar-es-Salaam Campusand Ardhi University Real Estate School. He is a trust member of the Presidential Trust Fund.

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